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Information on Business Segments (Tables)
 12 Months Ended
Dec. 31, 2018
Net Sales and Operating Income by Segment
The Company’s subsidiaries operate principally in the United States, Canada, Mexico, China and Western Europe.
 
    
(In millions)
 
2018
 
 
2017
 
 
2016
 
Net sales:
 
 
 
 
 
 
 
 
 
 
 
 
Cabinets
 
$
2,418.6
 
 
$
2,467.1
 
 
$
2,397.8
 
Plumbing
 
 
1,883.3
 
 
 
1,720.8
 
 
 
1,534.4
 
Doors & Security
 
 
1,183.2
 
 
 
1,095.4
 
 
 
1,052.7
 
Net sales
 
$
5,485.1
 
 
$
5,283.3
 
 
$
4,984.9
 
    
(In millions)
 
2018
 
 
2017
 
 
2016
 
    
Operating income:
 
 
 
 
 
 
 
 
 
 
 
 
Cabinets
 
$
143.5
 
 
$
267.2
 
 
$
257.8
 
Plumbing
(b)
 
 
375.3
 
 
 
358.5
 
 
 
314.9
 
Doors & Security
(b)
 
 
155.6
 
 
 
146.9
 
 
 
126.4
 
Less: Corporate expenses 
(a) (b)
 
 
(79.2
) 
 
 
(90.1
) 
 
 
(80.5
) 
Operating income
 
 
$
595.2
 
 
$
682.5
 
 
$
618.6
 
(a)
  Below is a table detailing Corporate expenses:
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative expense
 
$
(79.2
) 
 
$
(85.0
) 
 
$
(80.5
) 
Long-lived asset impairment
 
 
—
 
 
 
(5.1
) 
 
 
—
 
Total Corporate expenses
 
$
(79.2
) 
 
$
(90.1
) 
 
$
(80.5
) 
 
(b)
 
We revised our previously reported results in 2017 and 2016 for ASU 
2017-07,
 Presentation of Net Periodic and Postretirement Costs and to reflect our new Doors & Security segment resulting from the reorganization we announced in July 2018.
 
  
 
 
 
 
(In millions)
 
2018
 
 
2017
 
 
2016
 
Total assets:
 
 
 
 
 
 
 
 
 
 
 
 
Cabinets
 
$
2,318.7
 
 
$
2,416.3
 
 
$
2,349.4
 
Plumbing
 
 
1,943.1
 
 
 
1,854.1
 
 
 
1,626.8
 
Doors & Security
 
 
1,526.0
 
 
 
1,032.2
 
 
 
995.1
 
Corporate
 
 
176.8
 
 
 
208.8
 
 
 
157.2
 
Total assets
 
$
5,964.6
 
 
$
5,511.4
 
 
$
5,128.5
 
    
Depreciation expense:
            
Cabinets
 
$
50.9
 
 
$
42.8
 
 
$
40.1
 
Plumbing
 
 
29.1
 
 
 
26.9
 
 
 
24.6
 
Doors & Security
 
 
30.2
 
 
 
25.9
 
 
 
26.2
 
Corporate
 
 
3.3
 
 
 
3.0
 
 
 
3.7
 
Depreciation expense
 
$
113.5
 
 
$
98.6
 
 
$
94.6
 
    
Amortization of intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Cabinets
 
$
19.6
 
 
$
19.7
 
 
$
18.4
 
Plumbing
 
 
10.4
 
 
 
7.7
 
 
 
3.6
 
Doors & Security
 
 
6.1
 
 
 
4.3
 
 
 
6.1
 
Amortization of intangible assets
 
$
36.1
 
 
$
31.7
 
 
$
28.1
 
    
Capital expenditures:
 
 
 
 
 
 
 
 
 
 
 
 
Cabinets
 
$
73.8
 
 
$
63.4
 
 
$
61.7
 
Plumbing
 
 
41.4
 
 
 
43.5
 
 
 
48.3
 
Doors & Security
 
 
34.3
 
 
 
40.1
 
 
 
38.8
 
Corporate
 
 
0.6
 
 
 
18.0
 
 
 
0.5
 
Capital expenditures, gross
 
 
150.1
 
 
 
165.0
 
 
 
149.3
 
Less: proceeds from disposition of assets
 
 
(6.1
) 
 
 
(0.4
) 
 
 
(3.9
) 
Capital expenditures, net
 
$
144.0
 
 
$
164.6
 
 
$
145.4
 
    
Net sales by geographic region 
(a)
:
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
4,606.6
 
 
$
4,492.2
 
 
$
4,258.5
 
Canada
 
 
433.1
 
 
 
427.6
 
 
 
406.4
 
China
 
 
260.6
 
 
 
202.3
 
 
 
175.0
 
Other international
 
 
184.8
 
 
 
161.2
 
 
 
145.0
 
Net sales
 
$
5,485.1
 
 
$
5,283.3
 
 
$
4,984.9
 
    
Property, plant and equipment, net:
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
628.9
 
 
$
562.3
 
 
$
499.8
 
Mexico
 
 
103.4
 
 
 
89.0
 
 
 
90.8
 
Canada
 
 
46.0
 
 
 
50.5
 
 
 
45.5
 
China
 
 
22.5
 
 
 
24.8
 
 
 
22.7
 
Other international
 
 
12.6
 
 
 
13.4
 
 
 
3.7
 
Property, plant and equipment, net
 
$
813.4
 
 
$
740.0
 
 
$
662.5
 
 
(a)
 
Based on country of destination